BENGALURU (Reuters) - China's Alibaba Group Holding Ltd missed analyst estimates for first-quarter revenue on Tuesday, as its e-commerce business was hurt by rising competition from smaller players such as JD.Com Inc and Pinduoduo Inc.
Alibaba's results mirror those of e-commerce giant Amazon.com Inc in the United States, as the easing of pandemic-related restrictions has led to more consumers visiting physical stores rather than ordering online.
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